Insurance: Ordinance and Law Coverage – What you need to know!
An important coverage available to building owners is “Building Ordinance and Law Coverage.” This coverage is sometimes included in property insurance policies and can be added by endorsement for an additional premium. In some situations (as mandated by Florida statutes) certain policies must include ordinance and law (O&L) coverage unless the client rejects the coverage in writing. Whether the coverage is statutorily required or not, it’s a very valuable option and all building owners (residential or otherwise) should be encouraged to obtain the coverage in order to provide the best possible protection. Read the rest of this entry
We all have hired a handyman to do work around our home in the past. But, hiring a handyman may end up being anything but “handy,” for you and the handyman alike.
If you are planning on having some work done, whether minor or major, I would strongly recommend looking into whether there are license or permit requirements for the type of work contemplated. If there is a license requirement, a general handyman would not be permitted to perform that task. For more information, you can visit the Florida Department of Business Professional Regulation at http://www.myfloridalicense.com/dbpr/pro/division/Servicesthatrequirealicense_Construction.html . Read the rest of this entry
Many times in the process of the loan application we forget to answer the most basic questions, and many times the simple answer’s help to understand the process a little better. For example: Mortgage payment? How is the payment separated out, when is it due, and how do they decide who has to have mortgage insurance and who doesn’t. Below are just a few interesting facts about the “mortgage payment”. Read the rest of this entry